Why would someone want to pursue FIRE ( financial freedom and early retirement)? It was my experience with different circumstances that allowed me to achieve financial independence.
My whole life I have followed the same path. High school, Bachelor of Economics and Masters in Corporate Finance & Control.
My stepdad, who was 55 years old, became unemployed at the beginning of 2008 while I was still in high school and living at home.
When he was 27 years old, he was involved in a car accident that left him with chronic back pain. Some of his nerves have become stuck in his spine. Although he enjoyed his job as a graphic designer, he felt that he needed to be able to work at home twice a week due to back pain. He could then take more breaks to walk and ease his back pain.
He was refused by his employer and fired. He was fired.
This was the moment that I realized that employment doesn’t provide any security or reliability.
I don’t want someone else’s opinion on how I do my job to dictate my life.
What happens if I don’t get the job?
What happens if I don’t get the promotion?
I don’t want my life to be filled with insecurity. I want to get rid of all the what-ifs in my life as soon as possible!
Understanding What You Don’t Want
My stepdad attended interview after interview but didn’t get the job.
He eventually found a job as an Uber driver, to transport special-needs children to school. Although he enjoys his job, he works only 3 hours a day so it isn’t a high-paying job.
My mom had to return to work to provide for her family.
Even my parents contributed by lending me money while I was studying. I obtained a student loan, which is very personal finance proof.
This was a situation I didn’t want in my life.
I would be living independently of my parents during university and would pay for all expenses myself. My tuition, rent and food.
The government provided some financial assistance. After my studies were over, I had EUR25,000 of student loan debt. I think this is a fair amount.
My mom and my stepdad were able to do their best in all situations. I am so grateful for them. But they gave me the drive to work hard so that I don’t have to rely on anyone to provide for me.
I would feel awful if I couldn’t find work and that the government, or anyone else for that matter, didn’t provide for me.
Being financially independent gives me the freedom to make my own decisions and choose between better and worse.
When the Blog is In
In November 2018, I attended the seminar of T. Harv Eker, Secrets of a Millionaire Mind’ (I obtained my ticket through an Instagram ad).
It was a great seminar. I gained so many valuable insights. Although it was a long weekend, I found it to be well worth the effort. He spoke extensively about retirement and financial freedom throughout the weekend.
That seminar made me realize that I would like to own my own business. It was something I wasn’t ready to do – I wasn’t sure I had the courage.
That seminar was the moment I decided to start putting myself out there, blogging and writing.
Although writing was something I loved, it wasn’t something I did. December 2018 was the year that the blog was created.
Freedom is the name of the game
Freedom is my number one value. It’s also the most important factor in my quest for financial freedom.
Mini-retirements are a way to achieve freedom right now. A mini-retirement allows you to travel, work on a passion, and do anything else. It’s easier than you might think to create a mini-retirement. Don’t wait until retirement, enjoy life today!
In 2017, I was on the road for4 and then 4 months without work. In 2019, I was able to travel for another 4 months. This freedom is mine.
My Why to FI
It had always sounded nice to me, and I am finally able to say: My way to FI.
It was fascinating to be financially independent – this is what I wanted!
I don’t want to work for anyone else. I want to pursue my passion projects and not be under any pressure.
April 2018, was the first month I began working. I realized that I had more than I needed.
Soon after, I began investing. This was something I knew a lot about due to my economic background.
I also invested in crypto. This is what I consider my play money. I don’t rely on it to bring me any returns.
Financial Independence was something I found in November 2018. I took it all very seriously. This was my chance to escape the rat race.
I was both astonished and astonished by the idea of having enough money to invest in your future expenses.
I Dove in Head-First
I calculated my savings rates and found that I was doing very well.
My housing costs are extremely low because I live in a shared apartment.
My employer pays for my vehicle. I get taxes deducted from my salary for this purpose.
I consider myself extremely fortunate to have found this type of job with very little lifestyle inflation, compared to when it was my first career. At 35 years old, my savings rate is sufficient to allow me to retire in 10 years.